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When to book expenses

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CA PARTH SHAH employee [ Scorecard : 520]	Posted On 29 June 2012 at 16:37
	MY COMPANY EXPORTED GOODS IN MARCH 12. C&F AGENT SENT US HIS BILL IN APRIL 12 WHICH INCLUDES DETAILS OF ALL THE EXPENDITURE INCURRED BY THEM ON BEHALF OF US. WHEN SUCH EXPENSES ARE TO BE BOOK ? IN MARCH 12 ITSELF BY FOLLOWING MATCHING PRINCIPLE AND AS 29 OR IN APRIL 12?

CA SUNNY AGGARWAL Tax Consultant [ Scorecard : 552]	Posted On 29 June 2012 at 17:10
	As I THINKS, Since goods has been exported in march and also possession has been transferred in march, It will be considered as sale and should be booked in march, 2012.


Sreeniketh Angara B. Com CA PCC CS Executive [ Scorecard : 673]	Posted On 29 June 2012 at 17:18
	Agree With Sunny

CA JATINDER SALHOTRA PRCTICE CA [ Scorecard : 54]	Posted On 29 June 2012 at 18:08
	same agree with sunny

Nitil Kr. Agarwala Persuing CS [ Scorecard : 253]	Posted On 29 June 2012 at 18:34
	agreed with sunny...

Manikandan Finance Executive [ Scorecard : 40]	Posted On 29 June 2012 at 18:35
	FYI.... For these kind of expenses you have to BOOK provisions in march. After receiving bill from agent you just account the bill and reverse the provsions created for that. This is how we are doing in our company. Regards Mani

CA Biswaranjan job [ Scorecard : 149]	Posted On 29 June 2012 at 20:27
	Agree with Manikandan

Sreeniketh Angara B. Com CA PCC CS Executive [ Scorecard : 673]	Posted On 30 June 2012 at 11:05
	Yep... Agree with Manikandan

Manjunatha M K Manager - Accounts [ Scorecard : 312]	Posted On 30 June 2012 at 11:35
	Always Matching Concept holds Good. Account in March, by passing a provision entry.

S Gupta Finance Manager [ Scorecard : 92]	Posted On 30 June 2012 at 11:42
	if your books of accounts not closed, you may book these expenditure in march only, otherwise you may book these expenditure in april and at the time closing of books ot that year you may show these as prior period expenditure.

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